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SunSirs: Energy, Market Price of Refined Oil Fluctuates in a narrow Range (November 18-22)

November 25 2019 17:43:49     SunSirs (Selena)

  1. Price Trend

According to the price monitoring of SunSirs, last week's gasoline and diesel prices fluctuated in a narrow range. The domestic gasoline price was 6,216 RMB/ton, 0.18% higher than the previous week's price; the domestic diesel price was 6,385 RMB/ton, 0.08% higher than the previous week's price.

  1. Market Analysis

Product: last week, the international crude oil price fluctuated broadly. On November 18, the domestic refined oil price was increased, but the domestic refined oil market was not significantly improved. The market price of gasoline and diesel remained stable last week.

Industrial chain: last week, the international crude oil price first fell and then rose, with a large fluctuation range, but it did not break the current shock range. Trading was cautious ahead of the OPEC meeting and the international crude oil market remained relatively calm. U.S. crude oil production remains high and crude oil inventory continues to increase. Meanwhile, Russia and Saudi Arabia once again stated that they would stabilize the oil market by reducing production. In the long short game, the international crude oil market continues to remain volatile.

Market: gasoline, MTBE, alkylation oil and other components of raw material prices rose last week to form a certain support for gasoline prices. As there is no support of travel good news such as holidays in the near future, the transaction in the gasoline market remains stable, and the driving force for gasoline price rise is insufficient. In terms of diesel, infrastructure construction and engineering continue to support diesel, so the overall delivery of diesel is better than that of gasoline. But last week, the price of international crude oil market fell first and then rose, with a large fluctuation range, unstable market sentiment, and a small rise in diesel market.

  1. Market Forecast

AnalystS of refined oil products of SunSirs believe that the gasoline market is still lack of substantial good support, and the weather turns cold, and the operating rate of engineering, infrastructure and other industries may gradually decline, and it is expected that the domestic market price of refined oil will face greater downward pressure next week.

 

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